Dubai-based MySafe aims to meet the growing demand for safe deposit lockers in the UAE, especially as several banks worldwide, including those in the country, have exited this service. CEO Terry Downes notes that banks often view this service as a loss leader, and there are long waiting lists for clients to secure a safe deposit locker.
MySafe's approach is to provide a personal service, allowing customers to control access to their deposit boxes, and it claims to be the world's first secure, insured, and automated safe deposit service. The company charges Dh300 per month, inclusive of insurance, for one box, and plans to expand its network by partnering with different segments of the industry.
(http://m.gulfnews.com/business/sectors/technology/mysafe-wants-to-be-what-atm-has-done-to-cash-withdrawal-1.2170686 - original article summarised by ChatGPT 3.5)
MySafe Cashes in on Growing Demand for Safe Deposit Box